Housing Assistance

At Euclid Development Corporation (EDCOR), we believe that every resident deserves access to safe, affordable housing and resources to help build a better future.

Low Interest Home Improvement Loans

Federal Income Eligibility Guidelines*:

Number in Household Maximum Income

Is your Euclid home in need of repairs or upgrades, but finances are standing in the way? EDCOR's low interest home improvement loan program can help. With long repayment terms and a fixed 3% interest rate, these loans make critical home upgrades achievable for eligible Euclid homeowners.

*Income amounts are effective as of 4/2024 and are subject to change.

To discuss your home improvement plans and see if you meet program requirements, email us at info@edcor.org or download the Home Improvement Loan Information Pack and Loan Application below:

    • Exterior/interior repairs

    • System upgrades (electrical, plumbing, HVAC)

    • Remodeling projects

    • Lead paint hazard reduction (up to $500 in renovation costs forgiven)

    • Maximum loan amount: $24,000

    • 3% fixed interest rate

    • No fees or charges

    • 10-year repayment term

    • Special repayment options for seniors and disabled residents

    • Own and live in a two-or three-family dwelling in Euclid, OH for a minimum of 1 year

    • Have equity in your home

    • Meet income eligibility guidelines*

    • Income verification

    • Homeownership documentation

    • Proposed project list

    • Monthly household budget

    • Home insurance policy

    1. You must be a resident of the city of Euclid, Ohio.

    2. You must own and reside in the home in which the proposed improvements are to be made.

    3. If you own a two-or three-family dwelling, you must reside on one of the units and only that unit may receive funding.

    4. You must have equity in your home.

    5. You must have owned and lived in your home for at least one year.

    6. Your household/combined income must be within the published Federal guidelines.*

Down Payment Assistance Loans

Buying your first home in Euclid just got a little easier. EDCOR's Down Payment Assistance Loan program provides qualified homebuyers with funding support of up to $10,000 to achieve the dream of homeownership.

  • Down payment funds of up to $10,000 are available for any qualifying home purchase in Euclid, with 0% interest and no monthly payments.

  • This is a 5-year forgivable loan half the loan balance ($5,000) is forgiven after you have lived in the home for 5 years and submitted a proof of residency affidavit for each year. The remainder must be repaid upon sale or transfer of the home.

  • A non-refundable $150 application fee is required. EDCOR will issue a 60-day funding commitment letter to qualified applicants.

  • Loan amount will be based on upon income of household – 17% of purchase price with a maximum of $10,000.  The purchase price of an existing home may not exceed $209,000 or $273,000 for a new home.

Number in Household Maximum Income

    • Meet income limits based on household size.

    • Not have owned a home in the past 3 years.

    • Complete pre-purchase counseling and home maintenance training.

    • Able to contribute minimum 3% down payment from your own funds.

    • Signed and completed application

    • Signed copy of Rules & Requirements from Info Pack

    • Certificate of completion for HUD pre-purchase counseling

    • Pre-approval letter from lender 

    • Proof of ability to contribute 3.5% of purchase price (bank statement, 401k statement - cannot be seller givebacks)

    • Copy of last two 1040 Federal Tax Returns, copy of last two W-2s

    • Copy of last 4 paystubs for all jobs held by anyone 15+ in the home

    • Copy of driver's license/state ID

    • Copy of birth certificates for all minor children

    • If you collect a pension, copy of pension award

    • If you are self-employed, copy of last three years Tax Returns and Profit/Loss Statements

    • If you collect child support, copy of court order establishing custody and monthly child support payments

Federal Income Eligibility Guidelines:

To discuss your down payment assistance needs and see if you meet program requirements, email us at info@edcor.org or download the Down Payment Assistance Loan Information Pack and Loan Application below:

Neighborhood Opportunity Grant

2024 marks the first year we have offered a grant to Euclid residents.

We introduced our new Neighborhood Opportunity Grant, which supports exterior home repairs and improvements that enhance neighborhoods, helps raise property values, and elevates curb appeal. Response to this grant was overwhelming, with nearly 200 homeowners applying. While we were delighted by the enthusiasm, the limited number of available spots meant we could select only 36 grant recipients. Our partners at the City of Euclid recognized the community need and authorized an additional $150,000 in funding and we awarded another 20 grants—a total of 56 grants in 2024. This marks the beginning of what we hope will be an annual initiative, pending continued funding. Our aim is to invest in Euclid's beauty through forward-thinking programs that empower residents.

January 3rd, 2025 - All Applications Received for Neighborhood Opportunity Grant for 2025

The application period for the Neighborhood Opportunity Grant closed on December 20th at midnight. Thank you for your interest and please keep an eye out at the end of 2025 for news on the next round of funding.

Before

During

After